Canberra takes a bond ‘step change’ (The Australian)

The AOFM has started operating the $15bn Structured Finance Support Fund to help smaller lenders access funding during a period of market dislocation. Further detail on the fund provided on Tuesday evening said it was available to non-bank lenders and authorised deposit-taking institutions that did not have the collateral required to tap the RBA’s $90bn funding facility for banks. The AOFM will seek to invest in packages of loans — that are securitised — to assist smaller lenders while also considering making investments in warehouse facilities. On Friday, the AOFM started the operation of the structured fund, by investing $189m across six tranches of Firstmac’s $1bn mortgage bond.

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27 Oct 2019

Josh Frydenberg borrows from non-bank lender for Hawthorn home (Herald Sun)

Josh Frydenberg has taken his own advice and borrowed from a non-bank lender instead of one of the big four banks when getting a loan for his Hawthorn family pad.
 
Business to non-bank lenders has rocketed since last year’s bank Royal Commission as Aussies take their business elsewhere.

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